The event, hosted at the White House, will include panel discussions focused on the dangers posed to consumers by counterfeit products, as well as the harm caused to legitimate manufacturers by the illicit trade in counterfeits.

"During the holiday season," Mr. Barchiesi said, "consumers may be tempted by the cheap prices products offered by counterfeiters; but it's important for them to know that sometimes, what looks like a bargain, can carry a high cost."

In 2009, US Customs & Border Protection (CBP) and Immigration and Customs Enforcement (ICE) seized over $260 Million worth of counterfeit goods at US ports, ranging from clothing, to electronics, pharmaceuticals, software, and a variety of other household items. "While legitimate manufacturers of consumer goods are required to adhere to laws and regulations that ensure the safety of their goods; counterfeiters have been found frequently to use sub-standard or toxic components, along with prohibited manufacturing processes. Doing so cuts their costs of production and increases their profit margins, but consumers ultimately pay the price." Barchiesi continued, "We applaud the Obama administration for its ongoing efforts to educate consumers about the dangers of counterfeiting, and look forward to working to ensure that American consumers remain safe.

About the International AntiCounterfeiting Coalition (IACC)

The International AntiCounterfeiting Coalition, Inc. (IACC) is a Washington, D.C.-based non-profit organization devoted solely to combating product counterfeiting and piracy. Formed in 1978, today the IACC is comprised of a broad cross section of business and industry from the automotive, apparel, pharmaceutical, software, entertainment, and consumer products sectors. The IACC's members – which include many of the world's best-known brands – have combined annual revenues exceeding $750 billion. The touchstone of the IACC's mission is to combat counterfeiting and piracy by promoting laws, regulations and directives designed to render the theft of intellectual property undesirable and unprofitable.